The information contained herein does not constitute an offer
to sell or the solicitation of an offer to buy the securities of
Government in the United States. HKSAR Government's securities
may not be offered or sold in the United States absent registration
under the United States Securities Act of 1933 or an exemption from
registration. Any public offering of securities in the United States
will be made by means of an offering circular that can be obtained
from the HKSAR Government, and the offering circular will contain
detailed information about the HKSAR Government. No money, securities
consideration is being solicited by this document.
The information contained herein also does not constitute an offer
to sell or a solicitation of an offer to buy HKSAR Government's
securities nor shall there be any sale of such securities in any
state or country in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or country.